Marks and Spencer Group's quarterly trading statement showed that while its like-for-like UK food sales had risen by 4%, its general merchandise trading fell by almost as much:
Group sales: +3.1%
Total UK sales: +2.6%; Food: +6.3%; General merchandise: -2.2%
Like for like UK sales: +0.6%; Food: +4.0%; General merchandise: -3.8%
M&S's quarterly growth was thanks to better than expected food sales. Credit: PA
Marks and Spencer group reported a quarterly group sales rise of 3.1% today, which it said was its strongest sales growth in the last two years.
“We delivered an excellent result in Food, with performance well ahead of the market, as customers continued to trust us for provenance and quality. We are increasingly seen as the destination shop for special occasions," said Marc Bolland, chief executive.
The coldest March in 50 years is expected to add to clothing sales woes at Marks & Spencer today when the retail giant reports its latest trading figures.
The retailer which will report figures for its final quarter to the end of March, is predicted to reveal that general merchandise sales slumped by 4.5% - with some in the City expecting a fall of 6% - as a result of its poor clothing performance.
M&S saw a slump in general merchandise sales, which fell 3.8% in the previous quarter. Credit: Press Association
But the company's food sales are expected to grow by 3% which would be a marked improvement on the 0.3% increase in food sales over its third quarter.
It is also expected to benefited from the impact of the horse meat scandal on supermarket rivals.
'Very small number' of M&S Energy customers affected
A spokesman for M&S Energy has admitted that some of its customers were affected by SSE mis-selling, but insists the number accounts for less than one percent of the total:
We are aware that today’s announcement by Ofgem regarding SSE may have unfortunately affected less than 1 per cent of M&S Energy customers.
SSE has apologised unreservedly to those affected and has taken significant action to remedy the situation and ensure this will not happen again.
Anyone who believes they may have been affected should contact SSE directly as soon as possible.
– M&S Energy spokesman
The company refused to reveal exactly how many customers were affected, but said it was a "very small number".
Marks & Spencer is reportedly being eyed up for takeover by Middle Eastern investors plotting an ambitious £8 billion bid.
M&S was once one of the world’s most profitable retailers Credit: PA Wire
Qatar Investment Authority is in talks with private equity groups and banks about approaching the high street chain, according to The Sunday Times newspaper (£).
A bid for the retailer would mark the biggest private equity takeover of a British blue chip firm since Alliance Boots was snapped up by US buyout firm KKR for £11 billion in 2007.
It would also see another British name fall into foreign hands after recent high-profile takeovers such as US group Kraft's controversial acquisition of Cadbury.
Equity firm CVC, which owns Formula One, is said to have considered a bid last summer but pulled out after its plans were made public.
The takeover spotlight has once more fallen on M&S with its faltering sales in recent years.
Chief executive Marc Bolland is leading a turnaround plan to revive its performance but progress is slow because of difficult high street conditions.
This the scene at a Marks and Spencer store in Tunbridge Wells where a man has been electrocuted. Credit: ITV Meridian
Police guard a Marks and Spencer store in Tunbridge Wells where a man was killed this afternoon when he was electrocuted. For more on this story visit the ITV News Meridian website.
We were called just before 3.30pm to the store in Calverley Road. It is believed a man suffered an electric shock. He was pronounced dead at the scene.
The air ambulance also attended and the Health and Safety Executive are investigating the incident. It is being treated as a suspicious death until the full circumstances are known.
– Kent Police spokeswoman
She added that the force could not confirm that the man died as a result of an electric shock as the cause of death had not yet been established.
There has been a tragic incident at the store today and our thoughts are with the family concerned.
We are now concentrating on doing all we can to assist the emergency services with their investigation and as such are unable to comment any further at this stage.
